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☆ Moscow will reportedly block sales of Western banks to Russian firms, leaving them with no exit
▼ + stars: | 2024-10-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

New developments show the path for Western banks trying to exit Russia has gotten tougher. Moscow will block the sale of Western bank assets to local Russia buyers, sources told Bloomberg. Russia's government has signaled that it will block any efforts from Western banks to offload their local units to Russian-owned entities, according to Bloomberg, who cited people familiar with the matter. Given the fact that Russia has also prevented sales to foreign buyers, these Western banks appear to be stuck, with limited options available. This latest development is an expansion of the Kremlin's ongoing campaign to keep Western firms within its borders.

Persons: —, Raiffeisen Organizations: Bloomberg, Service, US, Austrian, UniCredit, Yale School of Management, Reuters Locations: Russia, Moscow, Russian, UniCredit, Abu Dhabi, Ukraine

☆ How Saudi Arabia could create a crisis for Russia's economy
▼ + stars: | 2024-10-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

One analyst suggests the market could see a repeat of the 2020 oil price war. AdvertisementRussia's wartime economy could face a tougher time securing needed oil revenue if Saudi Arabia tanks global crude prices. "Saudi Arabia is fed up," Simon Henderson, director of the Bernstein Program on Gulf and Energy Policy at The Washington Institute, told Business Insider. However, some kind of confrontation with Saudi Arabia may be stirring. "Unlike Saudi Arabia, its oil is not cheap to extract, making it poorly equipped to deal with low-price conditions.

Persons: —, Luke Cooper, hasn't, Simon Henderson, Bernstein, it's, Henderson, Vladimir Putin, Alexander Novak, Cooper Organizations: Service, Organization of Petroleum, Russia, London School of Economics, Financial Times, Gulf and Energy, The Washington Institute, OPEC Locations: Saudi Arabia, Russia, Riyadh, Ukraine, Gulf, Moscow, Iran, Kazakhstan

☆ Putin's weak response to Ukraine's advance on Russian soil appears to be rooted in a persistent fatal flaw
▼ + stars: | 2024-10-09 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +7 min

Russia's weak response in Kursk shows Putin's leadership still has a major flawRussia's response was slow, allowing Ukraine to take territory, and it hasn't put a general in charge. Putin doesn't want a situation where "any general could claim credit for being the victor," an expert told BI. AdvertisementRussia's weak response to Ukraine's assault into Russian territory is partly due to a persistent flaw in Russian President Vladimir Putin's leadership, a warfare expert told Business Insider. Weeks after the start of the full-scale invasion, Russia put Gen. Aleksandr V. Dvornikov in charge of operations in Ukraine. Destroyed Russian military vehicles on the outskirts of Sudzha, in the Kursk region, in August.

Persons: hasn't, Putin, —, Vladimir Putin's, Michael Bohnert, Vladimir Putin, Bohnert, GRIGOROV, Weeks, Aleksandr V, KIRILL CHUBOTIN, Simon Sebag Montefiore, George Barros, Sergei Shoigu Organizations: Service, RAND Corporation, Getty, New York Times, UK Ministry of Defense, Russian, Moscow Times, Publishing, Institute for, Newsweek Locations: Kursk, Ukraine, Russia's Kursk, Russia, Moscow, Kremlin, Russian, Sudzha

☆ The Kremlin says Trump sent Putin COVID tests during the pandemic, but denies subsequent calls
▼ + stars: | 2024-10-09 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +2 min

The Kremlin said Trump did send Putin COVID tests during the pandemic. A new book by Bob Woodward claims that Trump sent them in early 2020 for Putin's personal use. AdvertisementThe Kremlin seemingly confirmed reports that then-President Donald Trump sent COVID tests to Russian President Vladimir Putin in early 2020, for Putin's own personal use. Journalist Bob Woodward made the revelations in his forthcoming book "War," excerpts of which were published by CNN and The Washington Post on Tuesday. AdvertisementThe book also claims that Trump may have had up to seven phone calls with Putin since leaving office in 2021, citing a Trump aide.

Persons: Trump, Putin, Bob Woodward, Woodward, —, Donald Trump, Vladimir Putin, Dmitry Peskov, Peskov, — it's, Steven Cheung, Cheung Organizations: Kremlin, Trump, Service, CNN, Washington Post, Putin, TIME

☆ Russia's economy faces 'near stagnation' with sanctions whittling down annual GDP growth, European economist says
▼ + stars: | 2024-10-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Russia's economy is staring at "near stagnation," according to Anders Åslund. That's according to Anders Åslund, a Swedish economist who says Russia's economy is taking a bigger hit from Western sanctions than some believe. "My own view is that the current sanctions regime shaves off 2-3% of GDP each year, condemning Russia to near stagnation. AdvertisementRussia's GDP technically grew 3.6% last year, with another 3.2% real GDP growth expected in 2024, according to estimates from the International Monetary Fund. Consumer prices rose 8.5% year-per-year the week of September 17, according to official figures from Russia's Economic Development Ministry.

Persons: Anders Åslund, —, Putin, Åslund, SWIFT Organizations: Service, Ukraine, Syndicate, International Monetary Fund, Labor, Economic Development Ministry, Soviet Union, Wealth Fund Locations: Swedish, Moscow, Ukraine, Russia, Soviet

☆ Iran's missile attack forced some flights to turn around hours into their trips to avoid restricted airspace
▼ + stars: | 2024-10-01 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

Iran, Israel, and other neighboring nations closed their airspaces, forcing flight diversions. Some Lufthansa flights returned to Frankfurt several hours into their journeys to India and Dubai. AdvertisementFlightRadar24 shows Swiss and Lufthansa flights diverting amid Iran attacks on Israel on Tuesday. Several other carriers were also being forced to divert as route options remained limited between Europe, the Middle East, and Asia. AdvertisementAirlines like Japan Airlines, British Airways, and Finnair added up to four hours of flight time to avoid the Kremlin's airspace on flights between Asia and Europe amid Russian airspace closures and sanctions.

Persons: —, FlightRadar24, Finnair Organizations: Lufthansa, Service, German, Swiss, Emirates, British Airways, Royal Jordanian Airlines, El, Business, Airlines, Japan Airlines Locations: Iran, Israel, Frankfurt, India, Dubai, Jordan, Iraq, Europe, Zurich, Antalya, Turkey, Asia, London, Paris, Amman, Israeli, Rhodes, Greece, Tel Aviv, Larnaca, Cyprus, East, Russia, Ukraine

☆ Satellite images capture Russia's scramble to shield a key bridge from Ukraine's exploding naval drones and other threats
▼ + stars: | 2024-10-01 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

New satellite imagery shows how Russia has continued to add defenses to protect the Kerch Bridge. AdvertisementNew satellite imagery shows how Russia has stepped up its efforts to protect a key bridge from Ukrainian attacks, including its exploding naval drones. An overview of barriers near the Kerch Bridge on September 28. The threat has prompted Moscow to add defenses like the ones at the Kerch Bridge to the key ports of Sevastopol and Novorossiysk. A second Pantsir air-defense system on a tower near the Kerch Bridge on September 28.

Persons: —, Brady Africk, Maxar, Vladimir Putin Organizations: Service, Maxar Technologies, Business, Technologies, Fleet, American Enterprise Institute, Ukrainian Navy Locations: Russia, Kerch, Crimean, Crimea, Ukraine, Moscow, Sevastopol, Novorossiysk, Brady, Kyiv

☆ Hezbollah may copy tactics used by Russia in Ukraine to overwhelm Israel
▼ + stars: | 2024-09-24 | by ( ) www.businessinsider.com time to read: +4 min

According to Lebanese health officials, Israeli strikes have killed 558 people and led thousands to flee for safety. "It's not going to be a walk in the park," Assaf Orion, a retired brigadier general from the Israeli military told the Journal. Analysts say that Hezbollah has likely learned valuable lessons from working with the Russian military in Syria. The latest round of conflict between Israel and militias aligned with its arch-foe Iran began on October 7, when Hamas launched terror attacks in Israel and Israeli forces invaded Gaza. Hezbollah launched missile attacks on northern Israel in solidarity with Hamas, while the US pledged support for Israel if attacked and the Kremlin shored up support for its regional allies.

Persons: —, Vladimir Putin's, It's, Mesrob, Russian Wagner Organizations: Service, Military, Wall Street, Business, Center for Strategic, International Studies, Department of Politics, Studies, SOAS, University of London, France, Hezbollah, Israel, CNN, Washington Institute for Near, Hamas, Washington Institute Locations: playbook, Ukraine, Lebanon, Israel, Russia, Ukrainian, Syria, Russian, Iran, Gaza, Hezbollah

While top executives from Alphabet , Meta and Microsoft are headed to Capitol Hill on Wednesday for a hearing on election threats, Elon Musk's X won't be participating. A representative for Sen. Mark R. Warner, the Democratic chair of the Senate Intelligence Committee, said in an emailed statement that X "declined to send an appropriate witness." The hearing is titled "Foreign Threats to Elections in 2024 — Roles and Responsibilities of U.S. Tech Providers." On Wednesday, Musk shared a false story on X that claimed explosives were found in a car near Trump's planned rally in Long Island, New York. "Under X, they are absent and some of the most egregious activity has taken place" on the platform, Warner said.

Persons: Elon Musk's, Sen, Mark R, Nick Pickles, Pickles, Kent Walker, Nick Clegg, Brad Smith, Marco Rubio, Joe Biden, Donald Trump, Biden, Merrick Garland, Musk, Kamala Harris, Harris, Warner Organizations: Microsoft, Capitol Hill, Warner, Democratic, Senate Intelligence, X, CNBC, U.S . Tech Providers, Republican, Social Design Agency, U.S . Department, Foreign Assets, Nassau County police, SpaceX, FAA Locations: Russian, Russia, Iran, China, Long Island , New York, Nassau County

☆ North Korea may be Russia's most dangerous ally, Ukraine spy chief says
▼ + stars: | 2024-09-16 | by ( Tom Porter | ) www.businessinsider.com time to read: +3 min

Read previewIn the wake of the Ukraine war, Russia has formed a close alliance with China, the world's second-biggest economy, and boosted trade ties with other major economies, such as India. AdvertisementFor decades, North Korea has been among the poorest and most isolated Asian countries, with the UN imposing severe sanctions to curtail its nuclear weapons program. However, the Ukraine war enabled North Korean leader Kim Jong Un to improve his situation, forming a valuable security pact with Russian President Vladimir Putin's Russia in June. AdvertisementIn return, Kim has secured new security pledges from Putin, alongside access to valuable Russian military technology. Ukraine is currently battling to hold back intensifying Russian attacks in Donetsk, east Ukraine, but has seized control of a swath of Russian territory in Kursk.

Persons: —, GUR, Kyrylo Budanov, Budanov, Kim Jong, Vladimir Putin's, Kim, Putin Organizations: Service, Business, Kyiv, Reuters, North, US Defense Intelligence Agency Locations: Ukraine, Russia, China, India, North Korea, Vladimir Putin's Russia, Korea, Iran, Donetsk, Kursk

☆ Ukraine's Kursk offensive shows it could win the war if the West ended its weapon restrictions, European official says
▼ + stars: | 2024-09-09 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Read previewUkraine's Kursk offensive shows what the country could achieve if its allies dropped their weapons restrictions, a leading European official said. It's also complicated Russian plans for offensive operations later this year, Ukraine's military spymaster, Kyrylo Budanov, told Ukrainian radio station Radio Charter on Saturday, per a translation by the Institute for the Study of War. Western allies lifted some restrictions in May, allowing Ukraine to strike Russian troops building up at its borders, but it's still not allowed to use Western weapons to carry out deep strikes . "There's no one capability that will, in and of itself, be decisive in this campaign," Austin said, per Politico.

Persons: —, Marko Mihkelson, Mihkelson, Gen, Oleksandr Syrskyi, Syrskyi, It's, Kyrylo Budanov, it's, Volodymyr Zelenskyy, Defense Lloyd Austin, Austin Organizations: Service, West, Estonia's Foreign Affairs, Business, CNN, Radio, Institute for, Ramstein, American Enterprise, Defense Locations: Kyiv, Ukraine, Ukrainian, Russia's Kursk, Russia, Kursk, Pokrovsk, Western, Germany

☆ The plot to topple Putin
▼ + stars: | 2024-09-09 | by ( Paul Starobin | ) www.businessinsider.com time to read: +32 min

But it was only when Putin launched his full-scale invasion of Ukraine , in 2022, that Ammosov began to plot the overthrow of his homeland. As I found in months of wide-ranging interviews, everyone aspiring to a new Russian revolution grasps the seemingly impossible odds of their bid to topple Putin. Ponomarev — who was profiled last year in The Washington Post under the headline "Could this man bring down Putin?" Most applicants live in Russia, Sokolov tells me, but submissions have come from as far away as Uruguay. "I know a lot of good officers" in the CIA, Ponomarev told me, who "sympathize" with the anti-Putin insurgency.

Persons: Vladislav Ammosov, Ukraine —, Ammosov, wondrously, Vladimir Putin, Putin, Simona Supino, Alexey Navalny —, Ilya Ponomarev, Ponomarev —, —, Sean Guillory, Denis Sokolov, Sokolov, Galina Starovoytova, Anastasia Sergeeva, Sergeeva, Valter, Putin —, Tatiana Kosinova, Yelena Bonner, Itil, Boris Nemtsov, Nemtsov, Vladimir Lenin, specter, NurPhoto, Lenin, Leon Trotsky, Mao Zedong, Fidel Castro, Boris Akunin, Ponomarev, Trotsky, Mao, Castro, Alexei Sobchenko, Sergei Chuzavkov, Ilya Ponomarev Ponomarev, Michał Kamiński, Kosinova, Pavel Ivanovich Chichikov, Nikolai Gogol's, . Barnum, Bernie, Madoff, Donald, Leonid Nevzlin, Mikhail Khodorkovsky, Navalny, King George III, Khodorkovsky, Garry Kasparov, Putin's, Andrey Volna, Brian Fitzpatrick, Charlie Wilson's, Tom Hanks, Philip Seymour Hoffman, Daniel Fried, William Burns, Fried, Biden, We're, Evgenia, it's Organizations: Putin, Ukrainian, Russian Federation, The Washington Post, University of Pittsburgh, Civic Council, Kennan, Wilson Center, GRU, Russia, BI, International Republican Institute, CIA, Kremlin, Russian, Memorial, Soviet Union, of America, Civic, Ukraine's Ministry of Defense, Russian Volunteer Corps, European, Human Rights, Siberian Battalion, Ammosov, Ukrainian Armed Forces, Putin's Defense Ministry, True, Bolsheviks, of Russia Legion, People's Deputies, State Department, Justice Department, Polish Senate, Trump University, Trump, Khodorkovsky, FBI, Intelligence, Senate, Ukrainian Security Services, Bolshevik Locations: Siberia, Russia, Warsaw, Poland, Ukraine, Sakha, India, Putin Russia, Russian, Kyiv, The, restive North Caucasus, Washington, Soviet Union, Moscow, WhatsApp, Ukrainian, Soviet, Crimean, USSR, Europe, Uruguay, Armenia, Georgia, Kazakhstan, America, Canada, Great Britain, Germany, Australia, Belgorod, Kursk, Kremlin, China, Cuba, True Russia, Ponomarev, Northern Virginia, Polish, ., Lviv, Yukos, London, Pennsylvania, Texas, Afghanistan, Putin Russian, Tallinn, Estonia

☆ China slams U.S. for adding firms to export control list over alleged support for Russian military
▼ + stars: | 2024-08-26 | by ( Sheila Chiang | In Sheilachiang | ) www.cnbc.com time to read: +1 min

U.S. President Joe Biden and Chinese President Xi Jinping before a meeting during the Asia-Pacific Economic Cooperation leaders' week in Woodside, California, Nov. 15, 2023. China on Sunday said it "resolutely opposes" the U.S. decision to add multiple Chinese entities to its export control list in a bid to further curb Russia's access to advanced U.S. technology required for its weapons. The U.S. on Friday said it is tightening export controls to "further restrict the supply of both U.S.-origin and 'U.S. A total of 123 entities were added to the list, including 42 located in China, 63 from Russia and 14 in Türkiye, Iran, and Cyprus. Firms on the "Entity List" are subjected to export restrictions and licensing requirements for certain technologies and goods.

Persons: Joe Biden, Xi Jinping, Alan Estevez Organizations: Economic Cooperation, Xinhua, China's Ministry of Commerce, Firms, Commerce, Industry Locations: Asia, Woodside , California, China, Beijing, U.S, Russia, Belarus, Ukraine, Türkiye, Iran, Cyprus

☆ Russia is putting up a stiffer fight in Kursk and is sending well-equipped soldiers, says Ukrainian commander
▼ + stars: | 2024-08-23 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +4 min

Read previewA Ukrainian drone battalion commander says Russia is putting up a stronger fight in Kursk and is sending well-equipped soldiers to the region. AdvertisementThey are now dug down in cellars north of the town of Sudzha, deploying reconnaissance and strike drones to assist Ukrainian forces in their advance, it said. Ukraine's army chief, Oleksandr Syrskyi, said on Tuesday that Ukrainian forces were 22 miles into Russia. US officials told CNN last week that Russia appeared to be diverting thousands of troops from Ukraine into Kursk. It remains unclear exactly how many soldiers Russia is redeploying to Kursk from the main 600-mile front line in eastern Ukraine.

Persons: —, Oleksandr Syrskyi Organizations: Service, Regiment, Wall Street, Business, Institute for, CNN, Russian Presidential Administration Locations: Russia, Kursk, Ukraine's, Sudzha, Russia's Kursk, Ukraine, Russian, redeploying

☆ The US has announced new sanctions targeting Russia's war machine — and says more are coming
▼ + stars: | 2024-08-23 | by ( Filip De Mott | ) www.businessinsider.com time to read: +1 min

The US Treasury and State Department has issued new sanctions against entities still helping Russia. The Treasury warned that secondary sanctions could target nations hosting Russian bank branches. Go to newsletter preferences Thanks for signing up! AdvertisementThe US has taken fresh aim at Russia's wartime economy with another wide-sweeping sanctions package, targeting sources that help sustain Moscow's fight in Ukraine. On Friday, The Treasury and State Department announced restrictions against 400 individuals and entities worldwide, including in China, Turkey, and Switzerland.

Persons: —, Wally Adeyemo Organizations: US Treasury, State Department, Treasury, Service, Business Locations: Russia, Ukraine, China, Turkey, Switzerland

☆ Putin appointed his former bodyguard to take over Russia's military response to the Kursk invasion, local lawmaker says
▼ + stars: | 2024-08-14 | by ( Matthew Loh | ) www.businessinsider.com time to read: +5 min

Kursk State Duma deputy Nikolai Ivanov told Russian broadcaster RTVI on Tuesday that Putin had met personally with Alexei Dyumin, who was made secretary of the State Council in May. Ivanov said Putin told Dyumin to supervise military operations in Kursk, with the primary goal of ousting Ukrainian forces that invaded the Russian border region last week. Dyumin, seated second from Putin's right, attended a leading of Russia's top brass about the Kursk invasion. Related storiesWhen the now-deceased head of the Wagner Group, Yevgeny Prigozhin, staged a rebellion against Putin, Dyumin was rumored to have been instrumental in orchestrating negotiations. wrote state media military correspondent Alexander Sladkov on Tuesday.

Persons: —, Vladimir Putin, Nikolai Ivanov, Putin, Alexei Dyumin, Aleksey Gennadyevich Dyumin, Ivanov, RTVI, Dyumin, Valery Gerasimov, Alexander Bortnikov, Yevgeny Prigozhin, It's, Rybar, Alexander Sladkov Organizations: Service, Duma, RTVI, State Council, Business, Ukrainian, Bloomberg, Federal Security Services, Russian Presidential, Putin, Wagner Group Locations: Kursk, Russian, Crimea, Tula, Washington, Ukraine, Kyiv

☆ Russian banks are grappling with liquidity issues as US sanctions choke supply of yuan
▼ + stars: | 2024-08-13 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Russian banks are running low on yuan, Bloomberg reported. AdvertisementAn intensifying supply crunch in the Chinese yuan has pressured Russians to embrace a costlier method of securing the needed currency, Bloomberg reported. With the yuan liquidity shortfall doubling, Russian firms have grown increasingly dependent on yuan swaps provided by the Bank of Russia, Bloomberg said, but borrowing the yuan this way comes at a higher rate. This hasn't stopped yuan swap activity from ballooning. But even before the fresh sanctions package took effect this summer, Chinese banks were already halting yuan payments with Russia over fears of Western repercussions.

Persons: That's, —, Bloomberg, Jake Sullivan Organizations: Bloomberg, Service, Bank of Russia, US, Treasury Department, National, Carnegie Russia Eurasia Center Locations: Moscow, Beijing, Russia, Ukraine, China

☆ Ukraine is extending its record of flipping the script on Russia through innovation and audacity
▼ + stars: | 2024-08-13 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

Read previewFor months, Ukraine had been on the back foot in its war against Russia, with the Kremlin's forces slowly winning control of new territory. But last week, Ukraine turned the dynamic of the war on its head, launching an audacious incursion into Russia's Kursk province. However, the training provided by Ukraine's Western allies gave Ukraine the capacity to surprise and outmaneuver Russia. It's unclear exactly how Ukraine managed to take Russia by surprise with its Kursk attack. Military experts said that Ukraine had also exploited the sluggishness and rigidity of Russian military commanders, who scrambled to devise an effective response to the attack.

Persons: —, Vladimir Putin, It's, Russia's, Jacob Parakilas, they've, it's Organizations: Service, Russia, Kremlin, Business, Black, Rand Corp, Soviet, Economist, Forbes, New York Times, Military Locations: Ukraine, Russia's Kursk, Russia, Russian, Ukrainian, Soviet, Donbas, Crimea, Kyiv, Kursk

☆ She grew up in Ukraine, studied accounting, and joined the army. But since Russia invaded, she did a hard career pivot — twice.
▼ + stars: | 2024-08-12 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +7 min

Kuzmina, 32, is training to be an electrician in Kamianske, a city in eastern Ukraine. Because of worker shortages in fields like driving, mechanical work, and road work, the Ukrainian government launched a program that provides women with training vouchers. But Ukrainian women must still contend with employers and even family members who aren't always on board with more women taking traditionally male jobs. But soon after Russia invaded Ukraine in February 2022, Kuzmina's commander disbanded the unit because of a lack of resources. Ukrainian President Volodymyr Zelenskyy said last month that Russia had damaged or destroyed more than half of Ukraine's power generation.

Persons: —, aren't, Kuzmina, Yuliia Kuzmina, Volodymyr Zelenskyy, Yana Lukashuk, Lukashuk, Olga Kupets, Kupets, shubhangigoel@insider.com Organizations: Service, Business, Army, Ukrainian Army, Donbas Battalion, Kuzmina's, Locals, Kyiv School of Economics Locations: Kamianske, Ukraine, Russia, Ukrainian, Torestsk, Kyiv, Soviet

☆ Ukraine is striking targets hundreds of miles inside Russia for 3 key reasons, experts say
▼ + stars: | 2024-08-10 | by ( Cameron Manley | ) www.businessinsider.com time to read: +5 min

While the news grabbed headlines, it was not the first time that Ukraine has reportedly targeted sites deep within Russia. AdvertisementUkraine does not currently have permission to use long-range guided weapons such as the ATACMS to hit such targets inside Russia. While striking targets so far from the frontline may be seen as Ukraine spreading itself rather thinly, such attacks have three key benefits, experts told BI. "Russia has already adapted its air defense posture following previous drone strikes and reportedly has stood up mobile counter-UAS [unmanned aircraft system] teams. Russia's S-400 is one of its most advanced air defense systems.

Persons: —, Mark Cancian, Cancian, Justin Bronk, Moscow's pocketbook, John Hardie, Hardie, hasn't, Bronk Organizations: Service, Business, Ukraine's Security Service, International Security, Centre, Strategic, International Studies, Stringer, Anadolu Agency, Getty, Ukraine, Royal United Services Institute, Russia, Foundation for Defense of Democracies, Bloomberg, Reuters Locations: Ukraine, Russian, Murmansk, Russia, Astrakhan, Bashkortostan, Moscow

☆ Ukraine's audacious invasion of Russian territory is a massive blow to Putin's power
▼ + stars: | 2024-08-09 | by ( Tom Porter | ) www.businessinsider.com time to read: +6 min

But as the scale of the attack became clearer, with thousands of Ukrainian troops advancing up to 6 miles into Russia, Russian President Vladimir Putin hurried to contain the fallout. Ukraine's attack catches Russia off guardA Russian military video showing a Ukrainian tank during an attack on the Kursk region in Russia in August. It's led to fierce criticism of the Kremlin from ultranationalist bloggers, who've questioned why the Russian military was so unprepared and criticized chaotic attempts to evacuate civilians. Putin has so far been able to avoid major domestic unrest from the two-year war — despite the vast casualties it's inflicted on the Russian military. But the 2023 rebellion by the Russian mercenary group Wagner exposed Putin's vulnerability to blowback from events in Ukraine.

Persons: —, Vladimir Putin, Alexei Smirnov, Putin, Vladimir Putin's, It's, who've, Bryden Spurling, Callum Fraser, Russia aren't, Wagner, Russia's, Fraser, Spurling, STRINGER, Ukraine's, Maxim Alyukov, it'll, Alyukov Organizations: Service, Kremlin, Business, Anadolu, Russian MOD, RAND Corp, Royal United Services Institute, Wagner, Don, Getty, King's College London Locations: Ukraine, Russia's Kursk, Russia, Russian, Kursk, US, Kharkiv, London, Rostov, Moscow

☆ Russia would lose up to 1.8 million troops and take 5 years to capture the 4 Ukrainian regions it wants: UK Army Chief
▼ + stars: | 2024-07-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewRussia would likely take up to 1.8 million wounded and dead over five years to achieve its goal of fully capturing four major Ukrainian regions, said the new chief of the British Army. On Sunday, he said the UK must be ready to go to war in three years, per the BBC. AdvertisementAnalysts fear that Russia can outlast Ukraine's defense through its aggressive recruitment drives and a defense manufacturing industry that's kicked into overdrive. Russia has poured 40% of national spending into defense and security, essentially putting its economy on a war footing.

Persons: —, Sir Roly Walker, he'd, He'd, Walker, Vladimir Putin, Putin, that's Organizations: Service, British Army, Business, Warfare, Royal United Services Institute, —, Luhansk —, News, SAS, Staff, BBC, Sky Locations: Russia, Ukraine, British, London, Donetsk, Luhansk, Kherson, Kyiv, Kharkiv, — Donetsk, Ukrainian, Moscow

☆ Russia would lose up to 1.8 million troops and take 5 years to capture the 4 Ukrainian regions it wants: UK army chief
▼ + stars: | 2024-07-25 | by ( Matthew Loh | ) www.businessinsider.com time to read: +4 min

☆ Russia's war-driven economic growth is a mirage, and more sanctions are needed to keep pressure on, European finance ministers say
▼ + stars: | 2024-07-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Sanctions are instead straining Russia, and could do more if the West is patient enough, a group of eight European finance ministers jointly argued in The Guardian. Large financial stimulus is the chief tailwind keeping Russia resistant, but the ministers noted that isn't an endless pillar of support. The eight ministers argued that these conditions make Western sanctions more important than ever, adding that pressure should be cranked up on Russia. They noted that if the West is patient enough, Russia's confidence will eventually slump as long-term damage takes hold.

Persons: — Organizations: Service, Guardian, Business, Kremlin Locations: Moscow, Russia, Ukraine, Sweden, Poland, Netherlands, Soviet Union, Belarus, Asia

☆ Russia Cemetery Expansion Doubled Since Start of Ukraine War: Report
▼ + stars: | 2024-07-23 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +1 min

Russia is spending over twice as much on expanding its cemeteries than in 2020, according to the Moscow Times. Thousands of Russian soldiers have died in Ukraine, in part due to mass deployment and attrition. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia more than doubled spending on cemetery expansion projects during the first two years of its full-scale invasion of Ukraine compared to the two years preceding it, according to The Moscow Times. It reported that Russian regions spent over $2.5 million on cemetery expansion in 2023, and around $1.3 million in 2022, for a total of about $3.8 million.

Persons: — Organizations: Moscow Times, Service, Business Locations: Russia, Ukraine

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